This is what is going to happen to all meme cryptocurrencies

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nickqt

Diamond Member
Jan 15, 2015
7,091
6,365
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I agree with Vic’s title except the ‘meme’ part. This is what will happen with ALL cryptocurrencies.
To be fair to currencies, almost every single one defaults to zero eventually. That said, crypto is a casino.
 

evident

Lifer
Apr 5, 2005
11,674
239
106
Cardano was proof of stake before that. Reduced energy, but still high.

You are also right in that none are currencies. Too volitile for that.
Cardano is a shit coin, just like all of them. Lol. The only thing with a chance is still bitcoin and eth.
 

uclaLabrat

Diamond Member
Aug 2, 2007
5,076
1,767
136
- As soon as there is no money to be made from mining, I expect we'll see Proof of Stake for Ethereum to finally actually launch. Feels close.
Trying to understand what happens when the merge finally takes place. Mining difficulty goes up (or at least fewer operations will be viable) right? So supply constricts and price goes up, unless theres still enough mining capacity to not significantly impact price?

I kept thinking that the merge would plunge the popularity and thus the price, but im thinking more it would raise the price. If it would crater the price id expect the merge to keep being delayed indefinitely; why would the people with the greatest stake crater their asset? Now im not sure.
 

pmv

Lifer
May 30, 2008
10,207
4,950
136
This poor guy should have been paying attention.

Philip Martin told NBC News that he lost all of his cryptocurrency after he thought he was logging into Coinbase.


What does this mean?

But in fact, he says, hackers had put a bug on the url that sent him to a fake web site, which prompted him to automatically enter his log-in and password.
I am concerned lest hackers put a 'bug on the url' of Anandtech, and steal my precious 'likes' (and those 'trophy points' - I still don't understand what they are, but I'm sure they must be worth something).
 

DisarmedDespot

Senior member
Jun 2, 2016
557
542
136
Cardano is a shit coin, just like all of them. Lol. The only thing with a chance is still bitcoin and eth.
They're all shitcoins.

Bitcoin is a corpse, a shambling corpse kept up only by inertia and people who don't know better. It's never going to switch off of Proof of work and is always going to be limited to seven transactions a second. Even if lightning network worked (it doesn't), it would take a decade to get everyone on earth onboarded. And I'm pretty sure that estimation assumes one wallet per person, which won't be the case. All bitcoin has is the highest price. People will mumble about it being the most diversified crypto, but for the last few years three mining pools have had over 50% hash power, so it's basically controlled by a cartel.

Eth squandered every single advantage it ever had by screwing up the PoS switch for over half a decade.

This poor guy should have been paying attention.

Philip Martin told NBC News that he lost all of his cryptocurrency after he thought he was logging into Coinbase.

Ah, phishing attacks, they never cease to work on crypto bros.

Maybe if they were actually interested in security instead of being objectively terrified of someone running an update statement on a database, this wouldn't happen.
 
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